Enhanced parimutuel wagering user interface for display of indicative odds

ABSTRACT

A wagering system and method may include a processor that presents indicative odds in a parimutuel wagering system to the user in a user interface such that the user may place a bet of one of the presented bets using a control in which the indicative odds are presented. The indicative odds may be updated in real-time and presented in real-time to the user.

RELATED APPLICATIONS

This application is related to U.S. patent application Ser. No.13/160,894, filed Jun. 15, 2011(Attorney Docket No. 12170/119), which isa continuation-in-part of U.S. patent application Ser. No. 12/924,766,filed on Oct. 5, 2010; which is a continuation of U.S. patentapplication Ser. No. 12/660,400, filed on Feb. 24, 2010, which is acontinuation of U.S. patent application Ser. No. 10/640,656, filed Aug.13, 2003; which is a continuation-in-part of U.S. patent applicationSer. No. 10/365,033, filed Feb. 11, 2003; which is acontinuation-in-part of U.S. patent application Ser. No. 10/115,505,filed Apr. 2, 2002; which is a continuation-in-part of U.S. patentapplication Ser. No. 09/950,498, filed Sep. 10, 2001; which is acontinuation-in-part of U.S. patent application Ser. No. 09/809,025,filed Mar. 16, 2001, which issued as U.S. Pat. No. 7,225,153; which is acontinuation-in-part of U.S. patent application Ser. No. 09/744,816,which was attributed a filing date of Apr. 3, 2001 and which issued asU.S. Pat. No. 7,389,262; which was the United States national stageapplication under 35 U.S.C. §371 of Patent Cooperation TreatyApplication No. PCT/US00/19447, filed Jul. 18, 2000; which is acontinuation-in-part of U.S. patent application Ser. No. 09/448,822,filed Nov. 24, 1999, which issued as U.S. Pat. No. 6,321,212; whichclaims the benefit, under 35 U.S.C. §119(e), of U.S. Provisional PatentApplication Ser. No. 60/144,890, filed Jul. 21, 1999. Further, thisapplication is related to U.S. patent application Ser. No. 12/905,558,filed on Oct. 15, 2010, and U.S. Provisional Patent Application Ser. No.61/353,712, filed Jun. 11, 2010. Each of the applications referred to inthis paragraph is incorporated herein by reference in its entirety.

FIELD OF THE INVENTION

The present invention relates to a parimutuel wagering system having auser interface that displays indicative odds and receives bets fromusers.

BACKGROUND INFORMATION

In parimutuel betting systems, unlike other win/lose wagering systems,such as fixed-odds betting, a payout on a bet is not determined until apool is closed, which typically occurs when or shortly before the eventon which bets are placed begins. Parimutuel betting systems are designedaround shifting odds that continuously change until a final bet on theevent is placed. Each payout for each individual bet is determined as ashare of all the available bet amounts in the pool. A winning wager in aparimutuel system receives a payout from the portion of the pool that ismade available to pay winning wagers (as opposed to portions kept byoperators (“the house”)), which payout is proportional to the ratio ofthe amount of money wagered by the individual to the available portionsof the overall amount wagered by the winning bets.

In parimutuel betting systems, the role of and risk to the house, whichmay be, for example, a casino, sportsbook organization, racetrackoperator, or the like, is minimized because bettors place wagers againstother bettors, rather than against the house. Thus, parimutuel systemsmay eliminate any tangible risk for the house, allowing the house tosimply take a cut of the entire betting pool without regard to theoutcome of the event, such as an athletic competition, on which thewagers are placed.

A feature of parimutuel wagering is the uncertainty of the exact payouton winning bets at the time the bet is placed. That is, the bettor doesnot know what the exact odds and the exact payout amount of the bet willbe, since the payout is proportional to the ratio of the amount of moneywagered by the individual to the overall amount wagered by the winningbets, and the payout further depends on all amounts bet on the relevantevent, and the amounts wagered are not final until the end of thebetting period (although the period in which bets may be placed has notended).

Wagering systems exist that provide a bettor with the capability ofplacing bets, but do not provide an optimal user interface via which toplace the bets, particularly parimutuel wagers.

SUMMARY OF THE INVENTION

Example embodiments of the present invention provide improved userinterfaces via which a bettor may place bets. The user interfaces areconfigured to provide information in an optimal way, such that the usercan make informed decisions in placing the bets. The information mayinclude, for example, indicative odds in a parimutuel wagering paradigm,determined based on the assumption that no more bets will be receivedduring a betting period, and provided in a strategic manner such thatthe user can make quick decisions concerning placement of bets based onthe information.

As described in U.S. patent application Ser. No. 12/660,400 (“the '400application”), and U.S. patent application Ser. No. 12/905,558 (“the'558 application”), each incorporated herein by reference, parimutuelwagering systems may accept a wide variety of wagers on an event, andmay pool those wagers together. The '400 application describes theexpression of bets as a combination of fundamental bets, which allowsbets of different types to be entered into the same parimutuel pool. Thefundamental bets described in the '400 application also allow theindicative odds of every bet to be calculated.

The present invention relates to the display of indicative odds to auser of a parimutuel wagering system in a user interface that may alsobe operable to receive new bets from a user. In this manner, the user ofa parimutuel wagering system can consider more detailed bettinginformation when deciding which bets to place.

According to an exemplary embodiment of the present invention, acomputer-implemented wagering method includes performing the followingby at least one computer processor: calculating indicative odds of a betrecordable on an event, the indicative odds being based on an assumptionthat no more bets will be received, and outputting the indicative oddsof the bet for display on a user interface page, the user interface pageincluding user-selectable controls for placing bets on the eventsubsequent to the outputting. In contrast to traditional parimutuelwagering systems, the indicative odds for each possible outcome of theevent is calculated and displayed on a user interface that is operablefor placing bets, such that a bettor is provided with informationrelevant to potential bets, e.g., indicative odds, and the bettor caneasily utilize the relevant information to place a bet with the userinterface.

In a further exemplary embodiment of the present invention, the userinterface page includes a display identifying the event for which theindicative odds of the bet are being displayed. In a further exemplaryembodiment of the present invention, the user interface page includes adisplay identifying the bets selected using the user-selectablecontrols.

In a further exemplary embodiment of the present invention, theuser-selectable controls include a selectable icon for changing theevent for which the indicative odds of the bet are calculated andoutput. In a further exemplary embodiment of the present invention, theevent is a race between at least two racers, and the user-selectablecontrols include a selectable icon for alternating between one of (a)calculating and outputting the indicative odds of the bets on one racer;and (b) calculating and outputting the indicative odds of the bets onmultiple racers. In a further exemplary embodiment of the presentinvention, the user-selectable controls include a selectable icon,which, when selected, causes generation of a bet order for a bet on anevent, the icon identifying indicative odds of the bet. In a furtherexemplary embodiment of the present invention, the user-selectablecontrols include selectable icons for setting a bet amount.

In a further exemplary embodiment of the present invention, the betspecifies that a player will finish in a place other than first place.In a further exemplary embodiment of the present invention, the betspecifies that the player will finish in a specified place, other thanfirst, in the event. In a further exemplary embodiment of the presentinvention, the bet includes specification of a place in which the playerwill not finish in the event.

In a further exemplary embodiment of the present invention, the betspecifies that the player will finish in either a specified place in theevent or in a higher place than the specified place in the event. In afurther exemplary embodiment of the present invention, the bet specifiesthat the player will finish in either a specified place in the event orin a lower place than the specified place in the event. In a furtherexemplary embodiment of the present invention, the bet specifies thatthe player will finish in one of a range of places in the event.

In a further exemplary embodiment of the present invention, the betspecifies that the player will finish in third place in the event, thata second player will finish in second place in the event, and that athird player will finish in first place in the event.

In a further exemplary embodiment of the present invention, the betspecifies that at least one additional player will finish in a specifiedplace in the event. In a further exemplary embodiment of the presentinvention, the bet specifies a place in which at least one additionalplayer will not finish in the event.

In a further exemplary embodiment of the present invention, the betspecifies that the player will win the event by at least a predeterminedmargin. In a further exemplary embodiment of the present invention, thebet specifies that the player will win the event by a predeterminedmargin.

In a further exemplary embodiment of the present invention, the userinterface page is updated in real-time in response to changes inindicative odds.

In an example embodiment of the present invention, a wagering systemincludes at least one computer processor configured to calculateindicative odds of a bet recordable on an event, the indicative oddsbeing based on an assumption that no more bets will be received, andoutput the indicative odds of the bet for display on a user interfacepage that includes user-selectable controls for placing bets on theevent subsequent to the display of the indicative odds.

In an example embodiment of the present invention, a non-transitivecomputer-readable medium has stored thereon instructions executable by aprocessor, the instructions which, when executed by the processor, causethe processor to perform a method, the method including calculatingindicative odds of a bet recordable on an event, the indicative oddsbeing based on an assumption that no more bets will be received, andoutputting the indicative odds of the bet for display on a userinterface page, the user interface page including user-selectablecontrols for placing bets on the event subsequent to the outputting.

In an example embodiment of the present invention, a user interfacewagering arrangement includes a selectable icon displayed in a displaydevice, which, when selected, causes generation of a bet order for a beton an event, the icon identifying indicative odds of the bet. In afurther exemplary embodiment of the present invention, the indicativeodds identified by the icon are updated in real-time in response tocalculated changes in the indicative odds. In a further exemplaryembodiment of the present invention, the bet specifies that a playerwill finish in a place other than first place.

In an example embodiment of the present invention, a computer processormay filter bet types according to indicative odds criteria received froma user, as described in U.S. patent application Ser. No. 13/161,186,filed Jun. 15, 2011 (Attorney Docket No. 12170/118), the entire contentsof which is hereby incorporated herein by reference. For such filteredbet types, which may include the bet types specified throughout thisdocument, the processor may output indicative odds as describedthroughout this document, e.g., in a user interface via which to receiveuser placed bets.

BRIEF DESCRIPTION OF THE DRAWINGS

The accompanying drawings, which are incorporated in and from a part ofthe specification, illustrate embodiments of the present invention and,together with the description, serve to explain the principles of theinvention.

FIG. 1 shows an exemplary embodiment of a user interface displayaccording to an example embodiment of the present invention.

FIG. 2 shows a further exemplary embodiment of a user interface displayaccording to an example embodiment of the present invention.

FIG. 3 is a flowchart that illustrates a method for wagering accordingto an example embodiment of the present invention.

FIG. 4 shows a system according to an example embodiment of the presentinvention.

DETAILED DESCRIPTION

Example embodiments of the present invention are directed to one or moreprocessors, which may be implemented using conventional processingcircuits or devices or combinations thereof, e.g., a central processingunit (CPU) of a personal computer (PC) or other workstation processor.The processor(s) may execute code provided, e.g., on a hardwarecomputer-readable medium including a memory device, to perform one ormore, e.g., all, of the methods described herein, alone or incombination. The one or more processors may be embodied in a serverand/or user terminal. The user terminal may be embodied, for example, asa desktop, laptop, hand-held device, personal digital assistant (PDA),television set-top Internet appliance, mobile telephone, smart phone,iPod, iPhone, iPad, etc., or as a combination of one or more thereof.The memory device may include any conventional permanent and/ortemporary memory circuits or combination thereof, a non-exhaustive listof which includes random access memory (RAM), read only memory (ROM),compact disks (CD), digital versatile disk (DVD), and magnetic tape.Such devices may be used, for example, for placing wagers, receivingwagers, allocating wagers, and/or allocating payouts for wagers.

An example embodiment of the present invention is directed to one ormore hardware computer-readable media, e.g., as described above, havingstored thereon instructions executable by a processor to perform variousones of the methods described herein, alone or in combination.

An example embodiment of the present invention is directed to a method,e.g., of a hardware component or machine, including transmittinginstructions executable by a processor to perform various ones of themethods described herein, alone or in combination.

FIG. 1 shows a user interface display 1 of a graphical user interface(GUI) provided by a processor for output on a display device accordingto an example embodiment of the present invention, in the context ofparimutuel wagering systems for horse races. While the example interfaceof FIG. 1 refers to a horse race, other events in which participantsplace in an order from first to last place are also contemplated.

The user interface display 1 may include selectable icons forcommunicating information to the user, or receiving the user's desiredbets. For each of the selectable icons described below, responsive toselection of the respective selectable icon, a processor may change thecolor of the respective selectable icon when selected, so as to indicateits selection. User interface display 1 may include a race display 101,for indicating the race for which the user interface display 1 isdisplaying information. Race display 101 may include a selectable racechange icon 102 that a user may select in order to change to a differentrace.

Race display 101 may further include a selectable single horse icon 103and a selectable multi-horse icon 104. Selection of the single horseicon 103 will allow the user to make bets on a single horse to finish ina particular place in the race. When the single horse icon 103 isselected, betting grid 105 is displayed on the user interface display 1.Betting grid 105 includes horse rows 106, each row associated with ahorse running in the selected race. Each horse row 106 is identifiedwith the name of the associated horse in the horse column 107. Thebetting grid 105 further includes columns associated with different bettypes. Each bet type column 108 contains a selectable bet icon 109 forselecting the bet type identified at the top of each bet type column 108for the horse associated with the horse row 106.

As shown in FIG. 1, horses 1 through 6 are listed in the betting grid105. Bet type columns 108 show possible bets on each horse, includingwin, place, show, second (i.e., the horse finishes in second place),third (i.e., the horse finishes in third place), and second or third(i.e., the horse finishes in second or third place). Many other bettypes may be included in the bet type columns, including finishing in aspecific place in the race, not finishing in a specific place in therace, finishing in a better place than a specific place in the race,finishing in a worse place than a specific place in the race, orfinishing in a range of places in the race. To place a bet on Horse 1 towin, the user may select the selectable bet icon 109 corresponding tothe first horse row 106 and the “win” bet type column 108.

As further shown in FIG. 1, the indicative odds for each bet, associatedwith each bet icon 109, may be calculated according to the exemplaryembodiment of the present method, and output on user interface display1. The indicative odds for each bet may be displayed in the selectablebet icon 109, so that the user may be made aware of the indicative oddsfor that particular bet. Further, the indicative odds may be updated inreal-time without the user refreshing the display page in which theicons and associated indicative odds are displayed, so that the user hasthe most current information to consider. For example, FIG. 1 shows beticons 109 for selecting bets that Horse 1 will win, place, show, finishsecond, finish third, or finish either second or third in the race.Those icons may further have displayed therein, respectively, the oddsfor Horse 1 to win, place, show, finish second, finish third, or finisheither second or third in the race, on which information the user maybase a decision to select one (or more) of the bet types to which theicons correspond for placing a bet on the respective bet type.

In an example embodiment, the user interface display 1 may include, asshown in FIG. 1, a bet amount interface 110. Bet amount interface 110may include selectable icons in a numerical keypad 111, for entry of auser's bet amount. Further, bet amount icon 110 may include selectablebet amount icons 112 corresponding to a plurality of commonly placed betamounts, e.g., $1, $5, $10, $25, $50, $75, $100, $200, $500, and to“other amount” (not shown). Any of the icons corresponding to thecommonly placed bet amounts may be selected for causing the processor torecord a bet of the respective amount on the selected bet type.Responsive to selection of the “other amount” icon, the system maydisplay the keypad 111 in place of or in addition to the display of theicons corresponding to the plurality of commonly placed bet amounts.Alternatively, the keypad may be provided even without selection of an“other amount” icon. The selectable bet amount icons 112 provide theuser with a convenient interface for entering the desired bet amount.

In an example embodiment of the present invention, the user interface 1may further include a current bet display 113 that summarizes the userselections and provides information regarding the selections made by theuser, e.g., via interaction with the user interface display 1. Forexample, if the user has selected Horse 1 to win, the current betdisplay 113 may display an identification of the selected horse, theselected bet type, the selected amount of the bet, and the most currentindicative odds for the bet, which may be updated in real-time. Currentbet display 113 may further display limit odds. Limit odds, as describedin the '400 application, represents the limit for the final odds, oncethe betting period has closed, that the bettor will accept.

FIG. 2 shows a user interface display 1 according to an exampleembodiment of the present invention, in the context of parimutuelwagering systems for horse races, including race display 201 havingselectable single horse icon 203 and selectable multi-horse icon 204.While the example interface of FIG. 2 refers to a horse race, otherevents in which participants place in an order from first to last placesare also contemplated. In FIG. 2, multi-horse icon 204 has beenselected, and therefore the betting grid 205 displays a different set ofpossible bets than that displayed in the betting grid 105 of FIG. 1.Multi-horse bets include exacta bets, trifecta bets (i.e., a particularhorse finishes in first place, a particular horse finishes in secondplace, and a particular horse finishes in third place), or any other betin which the user wagers on the finish of more than one horse.

In the multi-horse format shown in FIG. 2, betting grid 205 may includeselectable horse icons 206 representing each horse in the selected race.Betting grid 205 may further include position column 214, having slots215. To designate the order in which the user wants to wager the horseswill finish, the user may select a horse icon 206, and then select aslot 215 in the position column 214. The horse icon 206 will then fillthe slot 215, indicating that the horse associated with the horse icon206 will finish in the slot 215, in relation to the other horses fillingthe remaining slots 215 in the position column 214. Betting grid 205 mayalso include a bet type column 208, which includes a list of selectablebet icons 209 for selecting a type of bet, such as an exacta or atrifecta. The bet type may also be modified to be straight (i.e., thehorses must finish in an exact order for the bet to win), or boxed(i.e., the horses may finish in any order for the bet to win), usingselectable straight icon 216 and selectable box icon 217. Once a bet hasbeen designated using betting grid 205, the indicative odds for thedesignated bet are calculated and output on the current bet display 113.

Depending on the amounts being wagered on a particular event, theindicative odds on a particular event may change rapidly. Accordingly,in an example embodiment of the present invention, the system may updatein real-time the display 1 of FIGS. 1 and 2, in response to changes inthe indicative odds, e.g., without requiring the user to refresh thedisplay. In this manner, the user will be able to consider the mostcurrent information in deciding how to bet.

While certain interface components are described with respect to thedifferent example displays of FIGS. 1 and 2, other combinations of thedescribed components may be provided. For example, the bet amountinterface 110 of FIG. 1 and/or the current bet display 113 may beincluded in the display of FIG. 2.

FIG. 3 is a flowchart that illustrates a method for wagering accordingto an example embodiment of the present invention. As shown in FIG. 3,the exemplary method begins at step 301, with at least one computerprocessor, which is configured to receive bets recordable on an event,calculating indicative odds of a bet, the indicative odds being based onan assumption that no more bets will be received during the bettingperiod. Once the indicative odds of the bet are calculated, the methodproceeds to step 302, with the at least one computer processoroutputting the indicative odds of the bet on a user interface page, theuser interface page including user-selectable controls for placing bets.

FIG. 4 shows a system according to an example embodiment of the presentinvention. The system of FIG. 4 includes at least one central server401, capable of recording bets placed on one or more underlying events.Central server 401 includes memory 402 for recording the bets placed onone or more underlying events. The memory 402 may include anyconventional permanent and/or temporary memory circuits or combinationthereof, a non-exhaustive list of which includes random access memory(RAM), read only memory (ROM), compact disks (CD), digital versatiledisk (DVD), and magnetic tape. Central server 401 further includes atleast one computer processor 403, and memory 402 may store instructionsexecutable by processor 403 for providing the user interfaces describedin FIGS. 1 and 2, and for communicating with at least one user terminal404.

At least one user terminal 404, further included in the system, may beany type of human-machine interface known in the art, including apersonal computer, a laptop computer, a hand-held or portable devicesuch as a PDA, cellular telephone, smartphone, iPod, iPhone, iPad, etc.User terminal 404 includes memory 405, which may also include anyconventional permanent and/or temporary memory circuits or combinationthereof, a non-exhaustive list of which includes random access memory(RAM), read only memory (ROM), compact disks (CD), digital versatiledisk (DVD), and magnetic tape. User terminal 404 may further include atleast one computer processor 406. Memory 405 of user terminal 403 maystore instructions executable by processor 406 for providing the userinterfaces described in FIGS. 1 and 2, and for communicating with thecentral server 401. The communication between user terminal 404 andcentral server 401 may include updates of information for outputtingindicative odds and for placing bets.

Either of processors 403 and 406 may perform any of the method steps ofthe present invention. Processor 403 of central server 401 may calculateindicative odds, for example, and communicate the determined indicativeodds to the user terminal 404. Processor 406 of user terminal 404 may,for example, communicate the bets placed by the user to the centralserver 401.

The above description is intended to be illustrative, and notrestrictive. Those skilled in the art can appreciate from the foregoingdescription that the present invention may be implemented in a varietyof forms, and that the various embodiments may be implemented alone orin combination. Therefore, while the embodiments of the presentinvention have been described in connection with particular examplesthereof, the true scope of the embodiments and/or methods of the presentinvention should not be so limited since other modifications will becomeapparent to the skilled practitioner upon a study of the drawings,specification, and following claims.

1. A computer-implemented wagering method, comprising: performing thefollowing by at least one computer processor: calculating indicativeodds of a bet recordable on an event, the indicative odds being based onan assumption that no more bets will be received; and outputting theindicative odds of the bet for display on a user interface page, theuser interface page including user-selectable controls for placing thebet on the event subsequent to the outputting; wherein theuser-selectable controls include a selectable icon, which, whenselected, causes generation of a bet order for the bet on the event, theicon identifying the indicative odds of the bet.
 2. The method of claim1, wherein the user interface page displays an identification of theevent for which the indicative odds of the bet are being displayed. 3.The method of claim 1, wherein the user-selectable controls include aselectable icon for changing the event for which the indicative odds ofthe bet are calculated and output.
 4. The method of claim 1, wherein theevent is a race between at least two racers, the user-selectablecontrols including a selectable icon for alternating between one of (a)calculating and outputting the indicative odds of the bets on one racer;and (b) calculating and outputting the indicative odds of the bets onmultiple racers.
 5. The method of claim 1, wherein the user-selectablecontrols include selectable icons for setting a bet amount.
 6. Themethod of claim 1, wherein the user interface page displays anidentification of the bets selected using the user-selectable controls.7. The method of claim 1, wherein the bet specifies at least one of:that a player will finish in a place other than first place; that theplayer will finish in a specified place, other than first, in the event;a place in which the player will not finish in the event; that theplayer will finish in one of a range of places in the event; and thatthe player will win the event by at least a specified margin, the eventbeing winnable by the player by a margin that is less than the specifiedmargin.
 8. The method of claim 7, wherein the bet further specifies oneof: that at least one additional player will finish in a specified placein the event; and a place in which at least one additional player willnot finish in the event.
 9. The method of claim 1, wherein the userinterface page is updated in real-time in response to changes inindicative odds.
 10. A wagering system, comprising: at least onecomputer processor configured to: calculate indicative odds of a betrecordable on an event, the indicative odds being based on an assumptionthat no more bets will be received; and output the indicative odds ofthe bet for display on a user interface page that includesuser-selectable controls for placing bets on the event subsequent to thedisplay of the indicative odds; wherein the user-selectable controlsinclude a selectable icon, which, when selected, causes generation of abet order for the bet on the event, the icon identifying the indicativeodds of the bet.
 11. A non-transitive computer-readable medium havingstored thereon instructions executable by a processor, the instructionswhich, when executed by the processor, cause the processor to perform amethod, the method comprising: calculating indicative odds of a betrecordable on an event, the indicative odds being based on an assumptionthat no more bets will be received; and outputting the indicative oddsof the bet for display on a user interface page, the user interface pageincluding user-selectable controls for placing bets on the eventsubsequent to the outputting; wherein the user-selectable controlsinclude a selectable icon, which, when selected, causes generation of abet order for the bet on the event, the icon identifying the indicativeodds of the bet.
 12. A user interface wagering arrangement, comprising:a display device having displayed therein a selectable icon, which icon,when selected, causes generation of a bet order for a bet on an event,the icon identifying indicative odds of the bet.
 13. The user interfacewagering arrangement of claim 12, wherein the indicative odds identifiedby the icon are updated in real-time in response to calculated changesin the indicative odds.
 14. The user interface wagering arrangement ofclaim 12, wherein the bet specifies that a player will finish in a placeother than first place.